How To Make Money On BTCC Bitcoin Futures Trading Platform In 2021 (For Beginners)
Bitcoin Futures in Fine Details
Bitcoin as a Cryptocurrency has made huge milestones, including aligning itself with crucial characteristics of money and valuable assets. One critical product is the Bitcoin futures, which have been in the market since the December of 2017, after formal approval by the SEC.
According to records by bitcoinfuturesinfo.com, total sales volume amounting to $125 billion daily - a minute portion of the entire speculation market.
The Opportunity in Crypto Futures and Leverage
Bitcoin Futures and other crypto futures allow speculators to win with the correct prediction of volatility directions. Note, you do not have to own the underlying crypto-asset to take part in the speculation.Crypto futures take the form of a value to add to the blockchain of a Cryptocurrency.
Introducing Speculation Markets
Over the years, traders have come to the reality that risks exist at any time. So, the only way to thrive is to learn to manage it. And those who've mastered reading indicators to give them insights before making commitments are among the best traders.
Betting is a huge industry, and as long as crypto assets keep growing, speculator opportunities will also be plenty. The volatility of assets varies with respect to many factors concurrently. It’s the upswing or downswing that brings that. And the best and timely betters stand amazing chances.
Explaining Leverage and How Helpful it is
Making money by speculating on Bitcoin futures against the capitol in your account on a 1: 1 ratio is hectic practicality.
And how about if we multiply the opportunity to win or lose equally? It's a win-win scenario, and the platform allows you to multiply or leverage to some applicable limit.
For instance, on BTCC, taking Bitcoin futures allows you to leverage up by 150X your commitments.
Leverage allows you to borrow capital from the platform.Bear in mind that leveraging is a sword that cuts two ways into profits or losses depending on your predictions.
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Explaining Risk of Over-Leveraging and the Remedy
One critical risk management beginner trader’s face is blowing accounts due to overleveraging. By overleveraging, you take in too much-borrowed capital for your open positions. In case of a trend reversal, you have little or no free margin at all.
Three cardinal rules are helpful against overleveraging:
- Commit to low levels of manageable lot sizes (0.01 to utmost 0.1). Also, set your leverage to 50: 1, meaning you can only control 50X your commitment per open position.
- Work with trailing stops helps you guard capital and reduce losses in case of trend reversals.
- Discipline yourself to commit only 1% and utmost 2% of capital for every position you open.
Lot sizing and leverage ratios are variables a speculator/ trader can adjust to their advantage. However, if starting, let it not fascinate you regarding how much you can control. Instead, make every effort to grasp the intelligent ways to work with leverage while preserving capital and winning trades more than you lose.
Key Notes Regarding BTCC
BTCC is a platform where you can speculate on Bitcoin and Ethereum futures, among other vital crypto-futures like LTC, BTCH, XRP, and ADA. Since December 2017, BTCC is among the first platforms to roll out investment opportunities for its users.
If you are onboarding, it’s pretty simple, with varying options for access: Windows desktop client, Android and iOS applications available at Google play store and apple store for your mobile access.
BTCC falls among the rare platforms, thriving past a decade-plus without any security incidents.And that probably accounts for their longevity. Ideally, the system has a plugin that runs rounds of automatic audits to cater to all your security requirements.
Also, the core of the BTCC platform is built of one critical layer - the official platform valuation currency is Tether- USDT, a stable coin.Stable coins are valuable in units of fiat, the USD in the case of USDT. For your information, USDT is among the top five best digital assets in value and market capitalization.
Handy Tips for Beginners
How Trading Opportunities Work
Speculation is both a science and art. Bitcoin prices escalate, and that provides the opportunity. Yet, opening Bitcoin futures positions does not obligate you to own Bitcoin. You benefit from correct speculations in tandem with open positions.
It's an excellent opportunity to take advantage of - with the internet and proper applications.
- But do not just jump right in.
- Learn to manage risks with online trading.
- Make sure you understand at least four indicators.
Next, come up with a strategy to win every position you ever open. It's no harm to take three or six months working with demo accounts. At the apex, have in place a strategy to back your positions - test it adequately.
Crafting a Winning Strategy
There’s never been any commandment on how to craft a winning strategy. And you can benchmark a strategy against my ideal metrics here:
At what point do you commit a trade?Have a clear value or range applicable for the following basing on at least one indicator:
- Where is the trend? Upwards, downwards or ranging?
- Where is the momentum headed to? Bullish or bearish?
- How volatile is Bitcoin within your timeframe?
- Where is your trading volume indicator pointing - Overbought or oversold?
Managing Portfolio/Capital Risks
New to online trades?Statistics show that not more than 9% make it to the halls of winner traders.Timely though, this piece gives you virtually all the loops to avoid making it there.
No college or varsity certificate gives you a once-off license with wrenching the risks around. Mind you, even professionals exit a trade when it turns against their predictions, and they live to trade profitable, another timeframe or day.
Summing Up
It’s your opportunity to reap online, courtesy of the Blockchain and Bitcoin futures. And your first-hand rule is capital preservation while sailing the rough seas of risks.
Winner speculators study the market behavior first and counter it with a tested and back-tested strategy to win utmost where many make a loss.
GO FOR A FREE ACCOUNT IN SECONDS at BTCC and Try Your First Bitcoin Futures Trading. New Users Will Receive Up To 2,000 USDT Trading Bonus!